Improve Bottom-Line Performance with 360 degree Customer Profiles
Maintained customer data carries limited information: typically name, address, telephone number and some transactional and some survey obtained information. If you wanted to create an understanding of who your customers are, it would be practically impossible without the use of information external to your database. That is where we come in. Our MarketBASE enrichment overlays (85% to 95% of input records enhanced – guaranteed) are revolutionary to see how our MarketBASE enhancement system achieves the highest match / append rates in the industry.
Our MarketBASE overlays can tell you:
- Who are your customers: small / large businesses, SOHO’s, work at home businesses, residential consumers – in what proportions?
- How do your different customer segments or clusters compare in terms of response, tenure, profitability, tenure, (by service or product)?
- Which appended demographic characteristic (age, wealth, household configuration, income, buying preferences, credit ratings, etc) or firmographic characteristic (sales volume, type of business, SIC / NAICS categories, etc.) are significant in predicting sales or content response?
Improve Email Response Rates, Customer Acquisition
Achieving higher email response (particularly B2B) to promotions, appeals, offers, etc., requires obtaining answers to key questions, questions which PAC-COMM routinely answers for its’ clients:
- To maximize response, which businesses or consumers should we target?
- Why is response to our appeal so low?
- Which program subgroups or segments will respond at a higher rate?
- What appeals or offers that will achieve higher response?
- How do different appeals perform with “types” of prospects?
- How can we maximize response to existing or new prospect lists?
Can you currently answer these questions with your internal IT, MIS, or marketing department? If not, you can benefit from our marketing assistance. PAC-COMM answers important marketing and sales questions through our program MarketBASE .
For a complete description of our data cleansing, data processing and other services you can access a thorough description of the data services PAC-COMM and select partners offer here Information & Data Services.
Increase Return on Investment of Direct Mail Programs
Mail delivery, frequently dismissed as a minor revenue issue not worthy of close examination, is in fact a major revenue issue. PAC-COMM routinely documents revenue losses of 8% to 20% of mail budgets simply because prospect, customer, or member addresses lack periodic updating and correction.
BASICS corrects many specific address problems not corrected by standard USPS services including NCOA, DSF, DSF2.Address errors originate from poor lists, sloppy data entry, merge-purge processing errors, etc. BASICS processing reduces these 1st and 3rd class mailing related problems:
- Lost or delayed recurring revenue from monthly, other periodic billing
- Postage, production, mail house costs of non-delivered bills
- Postage savings – mail that cannot be pre-sorted for maximum discounts
- Telephone, communication costs to acquire correct billing address information
- Internal management of, data entry costs to update address records
- Lost revenue from non-delivered 3rd class prospect mail
- Postage, production costs of undeliverable 3rd class mailings
As a result, PAC-COMMs’ BASICS program routinely answers the following key ROI questions:
- What number and percent of our prospect or customer addresses are undeliverable?
- How many undeliverable addresses are correctable and deliverable? Which third class addresses are undeliverable and should not be mailed to?
- What gain in revenue will we achieve by mailing to corrected addresses and omitting undeliverable addresses?
- How much additional recurring revenue will we obtain by correcting our billing addresses?
- What additional yearly savings or additional revenue will we achieve through quarterly address correction?
The BASICS program answers these questions and provides 15 specific address correction services to assure our business and non-profit clients achieve a 5% to 15% increase in mail savings and increased prospect revenue. BASICS corrects many specific address problems not corrected by standard USPS services including NCOA, DSF, DSF2.
To determine the projected revenue your business or non-profit group can achieve from the BASICS program, we provide a ,free test of the revenue results that the address correction system can deliver.
Reduce Churn, Increase Customer or Member Tenure
The short-term customer generates less lifetime revenue than the long-term customer. Thus, identifying these accounts by their demographic and business characteristics can improve retention and prospecting programs. While understanding the motives and intentions of the customer is unlikely, PAC-COMM can identify the demographic and business differences between the two groups. Using ProfileT, PAC-COMM can tell the client which customers or members are to be treated differently based upon their churn rates. Tenure is also a valuable aid in preserving and protecting the professionalism and independence of the faculty. ProfileT used initially and periodically, answers the following questions:
- What types of customers, members, or prospects that are most likely to be high churn, short tenure accounts?
- Conversely, who are the customers, members, or prospects that are most likely to be low churn, high tenure subjects?
- Which appeals increase the tenure of either high or low churn customers or members?
- What additional revenue and ROI will result by increasing tenure of low churn sub-groups or segments?
Increase Market Penetration, Examine Market Share
Many businesses and non-profit organizations lack understanding of who their customers or members are. Limited to account, transactional, and revenue characteristics, many businesses and organizations cannot assess their market penetration and the identity of types of businesses or consumers to target as prospects. For example, if a business did not know they achieved 85% penetration of all electrical wholesalers; they would not have a basis to identify the other 15% of wholesales or systematically target parts of other industries for customer acquisition. Employing unique MarketBASE Profile and WorldVIEW, PAC-COMM can answer the following types of questions:
- What major consumer or business groups or segments make up our customer base?
- What percentage penetration have we achieved with each of our primary customer segments?
- Which of our customer segments is worth additional prospecting? What other associated industries should be expand our sales and marketing to?
- What additional response and revenue can we expect to achieve by continued marketing to existing versus new customer segments?
- What ROI will we achieve by continued marketing to existing versus new customer segments?
WorldVIEW answers these and other important marketplace questions. Additionally, this market insight forms the basis for later market share queries (in combination with other businesses specializing in market share assessment).